Indonesia fines crypto influencer $30K, signals regulatory shift

Indonesia's financial regulator fined a crypto influencer $30,000 for promoting digital assets without a required certification, Forbes reported. The penalty marks the first enforcement under new rules that took effect this year, requiring anyone promoting crypto to hold a license or certification from the Commodity Futures Trading Regulatory Agency (Bappebti).

The case targets a practice that was once common across the industry: undisclosed paid promotions by social media personalities. Indonesia's move follows a broader global push to bring crypto marketing under the same disclosure rules that apply to traditional financial products. In the U.S., the Securities and Exchange Commission has brought similar cases against influencers who failed to disclose compensation for promoting token sales.